in other words, higher taxes or higher tax revenues coming from certain income levels mean u.s. consumers don't spend as much? is that the threat. >> the main threat is unemployment because despite the fact that bernanke had been pumping money through the system. >> the chairman of the federal reserve. >> if you're going over the fiscal cliff and the numbers are right minus 4% economic situation means much higher unemployment. it means less consumption. so that spreads throughout the whole society. >> tom: part of the tax debate goes right to the heart of investors. capital gains and dividends. if dividend taxes are increased, what would that mean for u.s. investors, especially those investors that are looking at the globe to invest? >> it means a lot because there are so many countries around the world that do not tax dividends or for that matter capital gains. >> tom: u.s. investors would get paid to go overseas. >> it's interesting to note that there is so much money sitting overseas being held by u.s. corporations that's not coming for fear that they will get this high tax.